NEUGEBAUER PROPOSES HISTORIC TOWN HALL WEBINAR WITH FERMI CO-FOUNDERS GOVERNOR RICK PERRY AND SON GRIFFIN PERRY ON JUNE 30--SO SHAREHOLDERS CAN HEAR FIRST-HAND EACH PARTY'S VIEWS ON THE PAST, PRESENT, AND FUTURE OF THE COMPANY

Rhea-AI Summary

Toby Neugebauer (Nasdaq: FRMI), co-founder and largest individual shareholder of Fermi America, proposed a June 30 town hall webinar with co-founders Governor Rick Perry and Griffin Perry before an upcoming shareholder vote.

He wants leading analysts, journalists, and industry experts to ask unscripted, real-time questions so investors can compare each side’s views on Fermi’s past, present, and future.

News Market Reaction – FRMI

+10.14%

22 alerts

+10.14% Session close to close

+10.6% Peak Tracked

-3.7% Trough Tracked

$6.13B Market Cap

0.9x Rel. Volume

In the Jun 25 session, FRMI gained 10.14%, reflecting a significant positive market reaction. Argus tracked a peak move of +10.6% during that session. Argus tracked a trough of -3.7% from its starting point during tracking. Our momentum scanner triggered 22 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +10.1% in the session following this news. A strong positive reaction aligns with r...

Analysis

The stock surged +10.1% in the session following this news. A strong positive reaction aligns with recent activist-driven governance focus, as shareholders weigh competing visions for Fermi. Prior news often pressured shares, so sustained strength could be tested by ongoing board control disputes and recent insider net selling of 6,593,748 shares.

Key Figures

Supermajority threshold: 70% Town hall date: June 30

2 metrics

Supermajority threshold 70% Vote required for shareholders to expand the Board, as described in article

Town hall date June 30 Proposed shareholder town hall webinar before the vote

Historical Context

5 past events · Latest: Jun 24 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 24	AI project update	Positive	-8.1%	Project Matador AI campus water‑stewardship strategy and reduced water usage claims.
Jun 22	Governance dispute	Negative	-5.1%	Company statement criticizing former CEO Neugebauer’s claims amid ongoing proxy conflict.
Jun 18	Activist campaign	Positive	-5.6%	Neugebauer communication arguing market supports board changes to enhance value.
Jun 15	Consent revocation	Neutral	+4.8%	Company filing definitive consent revocation statement and mailing letters to shareholders.
May 18	Consent revocation	Neutral	+0.6%	Company filing preliminary consent revocation statement in early stages of proxy fight.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent FRMI headlines tied to governance and the Neugebauer proxy fight have mostly coincided with downside moves, with only board consent‑revocation filings seeing modest strength.

Key Terms

supermajority, change-of-control, dual track process, strategic alternatives process

4 terms

supermajority regulatory

"a 70% supermajority vote threshold for shareholders to expand the Board"

A supermajority is a voting rule that requires a larger-than-normal share of votes—typically two-thirds or three-quarters—instead of a simple majority, to approve major corporate actions such as charter changes, mergers, or sale of key assets. It matters to investors because it makes major decisions harder to pass, protecting against sudden changes but also potentially blocking beneficial deals; think of it as needing more than a bare majority to change the group’s plan.

change-of-control financial

"exploring both a change-of-control full value transaction and the current tenant track"

A change-of-control is when ownership or effective control of a company shifts—for example through a sale, merger, acquisition, or transfer of voting power. It matters to investors because such a change can activate contract provisions (like early loan repayment, accelerated stock vesting, or severance pay), replace management and strategy, and quickly change the stock’s risk and value; think of it as a new captain taking the helm and steering the ship in a different direction.

dual track process financial

"whether the company should pursue a strategic dual track process — exploring both a change-of-control"

A dual track process is when a company pursues two exit options at the same time — usually preparing for an initial public offering (IPO) while also exploring a possible sale or merger. For investors, it matters because running both paths keeps options open and can push for a higher price, but it also creates extra uncertainty about timing, potential disclosures and which outcome will drive the final valuation — like listing a house for sale while also entertaining private offers.

strategic alternatives process financial

"called for an independent, banker-led strategic alternatives process to evaluate both tracks"

A strategic alternatives process is a thorough review conducted by a company's management and advisors to evaluate different options for the company's future direction. These options can include selling the business, merging with another company, restructuring, or other ways to improve value for shareholders. It helps ensure the company explores all possible paths to maximize its worth and achieve its goals.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Neugebauer Calls for Leading Analysts, Journalists, and Industry Experts Regularly Covering Fermi Who Know It Best Ask the Tough Questions — So Shareholders Have All the Facts Before Voting

DALLAS, June 25, 2026 /PRNewswire/ -- Toby Neugebauer, co-founder and largest individual shareholder of Fermi America, Inc. (Nasdaq: FRMI), today proposed a historic town hall webinar for Tuesday, June 30th — inviting Governor Rick Perry and his son Griffin Perry to join him before shareholders vote, so that investors can hear first-hand each party's views on the past, present, and future of Fermi.

Neugebauer is proposing that the leading analysts, journalists, and industry experts who regularly cover Fermi ask the tough questions — so that investors have all the facts. Questions would be taken live and in real time, with no submissions in advance and no pre-approved talking points.

The stakes of the forum could not be higher. Following Fermi's loss in federal court, Governor Perry and the rest of the Board gave themselves unprecedented control of the company — a 70% supermajority vote threshold for shareholders to expand the Board that would be virtually impossible to reverse. As Neugebauer continues his campaign to give shareholders their first vote on the future of Fermi, he argues that shareholders deserve to hear both sides make their case directly, under questioning by those who know the company best.

"I'm proposing a historic town hall webinar for June 30th so shareholders can hear first-hand each party's views on the past, present, and future of Fermi. Governor Perry and Griffin and have been friends, colleagues, and neighbors for decades before co-founding this company with me. Shareholders deserve to hear us answer tough questions from the analysts, journalists, and industry experts who cover this company — live, unscripted, in real time. By those who know the company best asking the tough questions."
— Toby Neugebauer

Among the core questions Neugebauer expects: whether the company should pursue a strategic dual track process — exploring both a change-of-control full value transaction and the current tenant track— to determine which path maximizes shareholder value from Project Matador. Neugebauer has called for an independent, banker-led strategic alternatives process to evaluate both tracks with full rigor. The current board has refused.

The forum would be webcast and open to all shareholders of record. Analysts, journalists, and industry experts who cover Fermi and wish to participate as questioners may contact contact@unlockfermivalue.com.

"After losing in federal court, Governor Perry and the rest of the Board majority have essentially given themselves a 70% supermajority lock on this company — a threshold so high it would make it nearly impossible for shareholders to change course if he's wrong. Shareholders deserve a real conversation and a real vote. Not lawyers. Not press releases. A town hall, on the record, where we both answer for our record and our vision."
— Toby Neugebauer

ABOUT PROJECT MATADOR

• 7,500-acre private power campus in Amarillo, Texas on a 99-year ground lease with the Texas Tech University System
• 11 GW+ of total power capacity; 6 GW Clean Air Permit (the nation's second largest), with another 5 GW filed
• Adjacent to the U.S. Department of Energy's Pantex facility
• $1B+ in financing, majority led by MUFG
• Fair value estimated at $8B–$12B vs. current enterprise value of approximately $3.2B

For more information, visit UnlockFermiValue.com or contact contact@unlockfermivalue.com

Important Information

Toby Neugebauer and his affiliated entities, Vicksburg Investments Management LLC and Melissa A. Neugebauer 2020 Trust (collectively with Mr. Neugebauer, the "Fermi Founder Parties"), David A. Daglio, Charles M. Elson, John T. Jimenez, Janet Yang, Sheila Hooda and Juan A. Pujadas (collectively, the "Participants") have filed a definitive proxy statement on Schedule 14A, accompanying GREEN agent designations card, and other relevant documents with the SEC in connection with the solicitation of agent designations for calling a special meeting of shareholders to be held as promptly as practicable (the "Special Meeting").

THE PARTICIPANTS STRONGLY ADVISE ALL SHAREHOLDERS OF THE COMPANY TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER PROXY MATERIALS, INCLUDING THE GREEN AGENT DESIGNATIONS CARD, THAT HAVE BEEN AND WILL BE FILED BY THE PARTICIPANTS AS THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE UPON REQUEST.

Mr. Neugebauer beneficially owns 146,516,035 shares of the Company's common stock, $0.001 par value per share (the "Common Stock"), composed of (i) Vicksburg Investments Management LLC beneficially owns 44,656,376 shares of Common Stock, (ii) 94,359,659 shares of Common Stock beneficially owned by Melissa A. Neugebauer 2020 Trust, and (iii) 7,500,000 shares of Common Stock underlying restricted stock units held by Mr. Neugebauer that vested in connection with his termination without cause. As of the date hereof, none of the other Participants beneficially own any shares of Common Stock.

View original content:https://www.prnewswire.com/news-releases/neugebauer-proposes-historic-town-hall-webinar-with-fermi-co-founders-governor-rick-perry-and-son-griffin-perry-on-june-30so-shareholders-can-hear-first-hand-each-partys-views-on-the-past-present-and-future-of-the-company-302811050.html

SOURCE Toby Neugebauer

FAQ

What is the June 30, 2026 Fermi America (FRMI) town hall webinar proposed by Toby Neugebauer?

The June 30, 2026 town hall webinar is a proposed live forum where Fermi America co-founders answer unscripted questions before a shareholder vote. According to Toby Neugebauer, it would let investors hear each party’s views on Fermi’s past, present, and future directly.

Who is invited to participate in the Fermi America (FRMI) town hall with Rick Perry and Griffin Perry?

Toby Neugebauer has invited Governor Rick Perry and Griffin Perry, his fellow Fermi America co-founders, to join the town hall. According to Neugebauer, leading analysts, journalists, and industry experts who regularly cover Fermi would ask live questions, with shareholders able to watch via webcast.

How can analysts and journalists join as questioners in the June 30, 2026 Fermi (FRMI) town hall?

Analysts, journalists, and industry experts who cover Fermi can request to participate as questioners by emailing contact@unlockfermivalue.com. According to Neugebauer, the event would feature no pre-submitted questions or approved talking points, emphasizing live, unscripted questioning for shareholders’ benefit.

What governance issues does Toby Neugebauer highlight about Fermi America (FRMI) before the shareholder vote?

Toby Neugebauer highlights that, following a federal court loss, Governor Perry and the Board adopted a 70% supermajority requirement to expand the Board. According to Neugebauer, this threshold gives the Board extensive control and makes altering the company’s direction difficult for shareholders.

What is Project Matador and the dual-track strategy Neugebauer discusses for Fermi (FRMI)?

Project Matador is a Fermi initiative where Toby Neugebauer favors a dual-track review: a potential change-of-control full-value transaction and the current tenant track. According to Neugebauer, he supports an independent, banker-led strategic alternatives process, which he says the current Board has declined.

Why does Toby Neugebauer say the Fermi America (FRMI) town hall matters for shareholders?

Neugebauer says the town hall matters because shareholders face a significant vote on Fermi’s future. According to him, investors deserve a direct, on-the-record conversation where co-founders explain their records and visions under questioning by experts who know the company well.